San Diego’s inventory of homes for sale is plummeting. There isn’t even the usual summer bounce in terms of inventory numbers. Something is going on the SD market which is NOT occurring elsewhere . . . .
The SD inventory numbers are way down YOY. I have heard countless speculation as to why this is so, other than true demand. But look at fellow bubble market Las Vegas, arguable affected by at least somewhat related demographics and economic activity. While SD inventory has nearly halved from the bubble’s peak, LV inventory has increased nearly 25%??? What gives? Why is SD inventory plummeting while at the same time LV inventory is going through the roof??????????????
[quote=BGinRB]I see the same pattern with few CA counties – OC, LA, SF, Riverside… obviously, everyone wants to live in CA and no one wants to live in NV. [/quote]
I don’t know if that’s the case. Don’t remember where I saw the population data, but if my memory serves, the population of San Diego has not increased much relatives to available housing over the last 3 years. So (natural growth + immigration – emigration) isn’t increasing that much faster than the rate of new housing to suggest the sharp drop in inventory.
Is Las Vegas experiencing net migration?
[quote=BGinRB]I see the same pattern with few CA counties – OC, LA, SF, Riverside… obviously, everyone wants to live in CA and no one wants to live in NV. [/quote]
I don’t know if that’s the case. Don’t remember where I saw the population data, but if my memory serves, the population of San Diego has not increased much relatives to available housing over the last 3 years. So (natural growth + immigration – emigration) isn’t increasing that much faster than the rate of new housing to suggest the sharp drop in inventory.
Is Las Vegas experiencing net migration?
[quote=BGinRB]I see the same pattern with few CA counties – OC, LA, SF, Riverside… obviously, everyone wants to live in CA and no one wants to live in NV. [/quote]
I don’t know if that’s the case. Don’t remember where I saw the population data, but if my memory serves, the population of San Diego has not increased much relatives to available housing over the last 3 years. So (natural growth + immigration – emigration) isn’t increasing that much faster than the rate of new housing to suggest the sharp drop in inventory.
Is Las Vegas experiencing net migration?
[quote=BGinRB]I see the same pattern with few CA counties – OC, LA, SF, Riverside… obviously, everyone wants to live in CA and no one wants to live in NV. [/quote]
I don’t know if that’s the case. Don’t remember where I saw the population data, but if my memory serves, the population of San Diego has not increased much relatives to available housing over the last 3 years. So (natural growth + immigration – emigration) isn’t increasing that much faster than the rate of new housing to suggest the sharp drop in inventory.
Is Las Vegas experiencing net migration?
